Exchange Rates (03/03/2015)

Foreign Currency

Foreign Currency Savings Accounts

Union Bank offers the following types of foreign currency accounts to its clients;

Non - Resident Foreign Currency Accounts (NRFC)

Union Bank NRFC accounts have been designed to allow you to deposit your hard-earned foreign currency as well as allowing you and your family to make withdrawls with ease and convenience as and when you need.

Who can apply for a Union Bank NRFC account?

Sri Lankan citizens employed overseas

Sri Lankans who hold citizenship overseas

Sri Lankan Citizens who have returned following overseas employment, provided the account is open within 90 days

Sri Lankan Nationals on scholarship overseas

Sri Lankans holding NRFC accounts with any other bank, through transfer of funds

Benefits of a Union Bank NRFC account.

Higher Interest rate on your foreign earnings

Interest is credited in account currency

Interest earned is free from income and withholding tax

Funds are freely transferable for authorized purposes without any exchange control approval

Account can be freely operated following your return as a permanent resident

Priority Banking Facilities for the account holders with a minimum balance of USD25,000 or more

Fixed deposits for a period of 3, 6 & 12 months

Rupee Loan & overdrafts up to 90% of the deposit

No Commission for Inward remittances (at the point of receiving) and standing orders

Attractive exchange rates when switching currencies

Personalized service and confidentiality

Account can be opened and operated at any Union Bank branch

Resident Non - National Foreign Currency Accounts (RNNFC)

Resident Foreign Currency Accounts (RFC)

Exporter's - Foreign Currency Accounts (EFCA)

Foreign Currency Accounts for Professional Service Providers (FCAPS)

Foreign Currency Banking Unit Accounts (FCBU)

To save your foreign exchange and earn interest at the same time a client could choose from a variety of currencies and time periods and also benefit from appreciating currencies by converting his investments as when he wishes.

Minimum deposit requirement is USD 500.00 or its equivalent in any other currencies.

Interest rate is periodically adjusted to be in line with market rates.

You could nominate any person /s, as beneficiary to your account balances, during the relationship for amounts of your choice.

You could appoint any person of full contractual capacity to operate the account in your absence.

Shipping and Airlines Foreign Currency Accounts (SAFA)

Foreign Currency Time Deposits Accounts

Non - Resident Foreign Currency Accounts (NRFC)

Union Bank NRFC accounts have been designed to allow you to deposit your hard-earned foreign currency as well as allowing you and your family to make withdrawls with ease and convenience as and when you need.

Who can apply for a Union Bank NRFC account?

Sri Lankan citizens employed overseas

Sri Lankans who hold citizenship overseas

Sri Lankan Citizens who have returned following overseas employment, provided the account is open within 90 days

Sri Lankan Nationals on scholarship overseas

Sri Lankans holding NRFC accounts with any other bank, through transfer of funds

Benefits of a Union Bank NRFC account.

Higher Interest rate on your foreign earnings

Interest is credited in account currency

Interest earned is free from income and withholding tax

Funds are freely transferable for authorized purposes without any exchange control approval

Account can be freely operated following your return as a permanent resident

Priority Banking Facilities for the account holders with a minimum balance of USD25,000 or more

Fixed deposits for a period of 3, 6 & 12 months

Rupee Loan & overdrafts up to 90% of the deposit

No Commission for Inward remittances (at the point of receiving) and standing orders

Attractive exchange rates when switching currencies

Personalized service and confidentiality

Account can be opened and operated at any Union Bank branch

Resident Non - National Foreign Currency Accounts (RNNFC)

Resident Foreign Currency Accounts (RFC)

Exporter's - Foreign Currency Accounts (EFCA)

Foreign Currency Accounts for Professional Service Providers (FCAPS)

Foreign Currency Banking Unit Accounts (FCBU)

Minimum deposit requirement is USD 1000.00 or its equivalent in any other currencies.